Sirona Hygiene, raises USD 3 million in Series A Funding from NB Ventures & IAN Fund
In an endeavor to impact customers’ lives positively, Sirona has been making strides across the country. This was noticed by the VC giants NB Ventures and IAN Fund who have backed them with funding of USD 3 million in April 2021.
Deep Bajaj, Co-Founder said —”At Sirona, we stand committed to solving unaddressed intimate & menstrual hygiene issues faced by women with our innovative products. This funding is a noteworthy milestone for us as we see it as an external validation of our work. We are thankful to NB Ventures, Dubai, and IAN Fund for believing in our mission to break the taboo around feminine hygiene issues. We are also thankful to our customers for supporting us through this journey. We hope to continue to disrupt this space with our innovative products. The money raised would be used to strengthen our position in existing channels and expand to newer markets.”
This funding firmly establishes Sirona as one of the biggest change-makers in the intimate and menstrual hygiene category in India. The funding will be used to expand business along with a focus on R&D as innovation remains at the forefront of Sirona.
Mr. Neelesh Bhatnagar, Chairman, NB Ventures, Dubai, said— “The necessity for a company that tackles the issues of menstrual and feminine hygiene has presented itself several times across the years. We are glad that Sirona has been solving for these issues through innovative products that bridge the gap. At NB ventures, we take pride in supporting mission led change makers and Sirona fits the bill well. They have solved many unaddressed feminine hygiene issues and are creating a new category which got us interested. These issues will get more critical in times to come & hence the move to invest could not have come at a better time. We really look forward to this partnership & supporting them in their journey!
Ms. Padmaja Ruparel, Founding partner, IAN Fund Said – “Sirona is focused on the market for women-oriented products which is a large & rapidly-growing category. And then, post pandemic, by adding a hygiene focused product portfolio, Sirona has created a huge opportunity for itself. But the bet for us are the entrepreneurs of the company, and the belief in Deep, his vision to create a category-leader and his own passion and ability to scale the company to become a market leader.”
Sirona Hygiene is an award-winning product innovation brand committed to breaking the stigma around menstrual hygiene with multiple innovative products across categories. Some of these game-changing products include -
- PeeBuddy - India’s first stand-and-pee device which has sold more than two million units to date
- Sirona Feminine Pain Relief Patches - India’s first herbal pain relief patch and has crossed over 100,000 units since the launch. These give women the opportunity to seek natural and effective pain relief in lieu of hot water bottles and pain killers.
- Sirona Natural Coloured Pads - India’s first colored, disposable biodegradable pads
- Sirona Oxo Degradable Sanitary Disposal Bags - India’s first Oxo degradable sanitary disposal bags
- Sirona Anti Chafing Rash Cream - India’s first natural anti-chafing cream for women
- Sirona Menstrual Cup Kit - A one-of-a-kind kit that consists of the Menstrual Cup Wash, Menstrual Cup Sterilizer, and the Sirona Menstrual Cups that are used by over 500,000 women.
The brand also hosts a number of awareness camps on the importance of menstrual hygiene for the under-privileged women and won two CSR awards last year for the same. In terms of performance, Sirona stands out as one of the few profitable start-ups. They have been growing 100% YoY for the past 3 years and have been profitable for the last 3 years.
IAN Network was the first outside investment ($450,000) raised by SIRONA in 2017, followed by a small bridge ($250,000) in 2019. The start-up has been PAT positive since 2019.
Lead Investor from Angel Round Mr. Vikas Kuthiala said “Sirona has successfully developed a range of products that women of all age groups trust while addressing their regular intimate hygiene needs. The current investment should help further scale the distribution and market growth of the brand portfolio across India and beyond.”
They have won awards like ‘National Entrepreneurship Award’ by the Ministry of Skill Development and Entrepreneurship, ET Startup of the year (Social Enterprise), Tie ‘Spirit of Manufacturing’, PhD Chamber of Commerce‘ Award for Excellence – Start-up’ etc. and recently made it to the Amazon Global Accelerator Program.
Mr. Ishan Singh, another Lead Investor from Angel round said - “I am super proud of having been able to play a role in the fantastic growth of Sirona. From the time I met Deep & Mohit at a pitch event to now, they have constantly delivered on their promises. Sirona is an established market-player today and this funding will help strengthen its position as a leader.”